S&P 500 – 6,735.35 (+0.00%)

Dow Jones – 46,924.74 (+0.47%)

NASDAQ – 22,953.67 (-0.16%)

• U.S. stocks hold steady after Monday’s big rally – Markets were mostly flat on Tuesday following Monday’s sharp gains.
• Netflix disappoints on earnings expectations – The streaming giant reported quarterly results that fell short of analyst expectations for both revenue and profit, sending shares roughly 6% lower in after-hours trading on Tuesday.
• WeightWatchers teams up with Amazon Pharmacy to deliver GLP-1 weight-loss drugs nationwide – Expanding access and convenience for members.
• OpenAI launches Atlas browser, taking on Google Chrome ahead of Tesla earnings – A bold move into the search and AI market.
• Cleveland-Cliffs stock rockets 21% as company reignites rare earth push – Investors cheer renewed focus on critical minerals.
• Apple nears $4 trillion valuation on iPhone 17 surge in U.S. and China – Strong demand drives record-setting momentum.
• Government data still MIA, raising Fed worries – The ongoing shutdown makes Powell’s job “more challenging” ahead of the Fed meeting.
• Trump and Albanese sign $8.5B critical minerals deal – U.S. and Australia team up on strategic projects.
• China posts slowest Q3 GDP growth in a year at 4.8% – Retail sales falter, trade outperforms, Beijing keeps 5% full-year target.
• Bitcoin tumbles to $109,000 – The cryptocurrency marks its eighth decline in 11 sessions since the October 10 flash crash.
• Gold futures hit all-time high, then retreat sharply – Precious metals see biggest one-day drop in four years after a monster rally.
• 10-year U.S. Treasury yield slips below 4% – Falls 3 basis points to 3.95%, under recent 4.0–4.5% range.
• VIX spikes to highest since May on credit worries – Investors digest renewed market uncertainty.
• S&P 500 earnings grow 8.1% as 15% report – Strong year-over-year growth continues to support markets.
• Apple rises after Loop Capital upgrade; iPhone 17 outsells iPhone 16 by 14% – Supply chain checks point to growth through 2027.
• Coca-Cola climbs after beating Q3 earnings – Reaffirms 2025 organic revenue guidance of 5%–6%.
• Lockheed Martin gains after beating estimates – Raises full-year 2025 guidance.
• Northrop Grumman slips despite profit beat – Sales miss expectations on slower space program progress; stock up 28% YTD.
• Philip Morris jumps on strong earnings, smokeless products driving growth – Raises full-year outlook; 41% of revenue now from smokeless.
• 3M rises on stronger-than-expected sales and earnings – Raises 2025 EPS guidance on solid demand across sectors.
• General Motors surges after crushing earnings – $2.80 per share vs $2.29 expected, raises full-year guidance.
• GE Aerospace climbs on strong demand and guidance – Earnings and revenue beat forecasts.
• Zions Bancorporation gains on earnings beat – Loan market concerns ease for regional banks.
• Amazon advances despite AWS outage – Investors eye upcoming earnings from Amazon, Microsoft, and Alphabet.
• Warner Bros. Discovery rises on strategic review announcement – Company explores alternatives amid “unsolicited” interest.
• Sunrun jumps after Citigroup upgrade – Growth supported by higher electricity rates and supplier leverage.
• Cleveland-Cliffs surges on strong earnings and steel demand rebound – Benefits from higher domestic prices and tariffs.
• Gilead Sciences hits 52-week high on trial success – HIV and breast cancer treatments show promise.
• Blackstone slips amid $17B Hologic acquisition talks – Hologic rises more than 4% on deal news.
• TSM advances after successfully producing Nvidia Blackwell wafers in U.S. – Nvidia trades slightly lower.
• Oracle drops on margin concerns amid investment plans – Near-term spending sparks investor caution.

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“The iPhone is not a phone, it’s a life in your pocket.” 

 - The New York Times

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Notable Stocks

•  Apple (AAPL)
• Cleveland Cliffs (CLF)
• Netflix (NFLX)
• Google (GOOGL)
• Tesla (TSLA)

Weekly Notables

WeightWatchers Partners with Amazon to Deliver GLP-1 Weight-Loss Drugs

WeightWatchers (WW) announced Monday that it has teamed up with Amazon (AMZN) to deliver prescription medications — including popular injectable GLP-1 weight-loss drugs — through Amazon Pharmacy, expanding access and convenience for its members. Under the partnership, WeightWatchers customers will be able to check real-time inventory and order refrigerated GLP-1 drugs for home delivery directly from Amazon Pharmacy, Chief Operating Officer Jon Volkmann said. The goal, he added, is to streamline prescription access for patients who previously struggled to find the medications in stock locally.

Netflix Earnings Miss Expectations Causing Shares to Slide 

Netflix (NFLX) reported quarterly results that fell short of analyst expectations for both revenue and profit, sending shares roughly 6% lower in after-hours trading on Tuesday. The streaming giant posted revenue of $11.51 billion, slightly below Bloomberg consensus of $11.52 billion and the company’s own guidance of $11.53 billion, up from $9.82 billion in the same quarter last year. Earnings per share came in at $5.87, missing analyst forecasts of $6.94 and Netflix’s internal target of $6.87, though still above the $5.40 reported a year ago.

Earnings Spotlight: Tesla (TSLA)

Tesla (TSLA, EV) will release third-quarter results today after the market close. The company says it delivered 497,099 vehicles in Q3, a quarterly record that outpaces consensus of 448,000, and produced 447,450. By model, Tesla made 435,826 Model Y and Model 3 vehicles and delivered 481,166 of those two models combined. Analysts forecast revenue of $26.6 billion, operating income near $1.58 billion, automotive gross margin about 15.9%, EPS around $0.55 and free cash flow near $1.1 billion. TSLA has rallied about 25% since mid-September as buyers rushed to capture the $7,500 tax credit. Management plans to focus commentary on AI and autonomy, including robotaxi progress in Austin and new job listings for Autopilot and robotaxi roles in Colorado and Illinois. 

What to Watch Ahead:

• Wednesday (Oct. 22): EIA Crude Oil Inventories, MBA Mortgage Applications Index. Earnings from Amphenol Coro. (APH), AT&T Inc. (T), CME Group Inc (CME), Crown Castle Inc. (CCI), GE Vernova Inc. (GEV), International Business Machines Corp. (IBM), Lam Research Corp. (LRCX), Moody's Corp. (MCO), SAP SE (SAP), Tesla Inc. (TSLA), United Rentals Inc. (URI).

• Thursday (Oct. 23): Continuing Claims, EIA Natural Gas Inventories, Existing Home Sales, Initial Claims. Earnings from ACNB Corp. (ACNB), Blackstone Inc. (BX), Decker's Outdoor Corp. (DECK), Digital Realty Trust Inc. (DLR), Freeport McMoRan Inc. (FCX), Honeywell International Inc. (HON), Intel Corp. (INTC), Newmont Corp. (NEM), T-Mobile US Inc. (TMUS), Union Pacific Corp. (UNP), Valero Energy Corp. (VLO).

• Friday (Oct. 24): Consumer Price Index (CPI), New Home Sales, University of Michigan Consumer Sentiment. Earnings from Booz Allen Hamilton Holding Corp. (BAH), General Dynamics Corp. (GD), HCA Healthcare Inc. (HCA), Illinois Tool Works Inc. (ITW), Natwest Group PLC (NWG), Proctor & Gamble Co. (PG), Sanofi SA (SNY).